How the Oil Leak is Worse then Katrina

The New Republic argues that the BP oil leak is rapidly becoming worse then Katrina in terms of its effect on the local economy:

In a matter of days, Katrina and the levee failure wiped out the physical and social fabric of many communities. Across the Gulf Coast, more than 1 million people were displaced from their homes and another estimated 1,400 persons lost their lives to the disaster. In New Orleans, the severe flooding destroyed more than 134,000 homes, wreaked havoc to public and private infrastructure, disrupted businesses, and severed generations of family and community ties that held many neighborhoods together.

But this span style="color: #800080;">protracted< oil spill disaster could undermine the basic economic purpose of the New Orleans metro area and threaten its very existence.

Cities exist because of their economic function. They bring similar firms and workers together to increase efficiencies and productivity, often borne out of the strategic value of their location. Chicago grew up around Lake Michigan and became a major trade and transportation hub and the gateway to the west. Boston maximized the assets of its location after the Revolutionary War to emerge as one of the wealthiest ports in the country. The founders of New Orleans chose its location span style="color: #800080;">(above sea level!)< near the mouth of the Mississippi River and the Gulf of Mexico, making the city a commercial center and destination for immigrants.

Today, New Orleans’ livelihood and economic survival remain intricately tied to the health of the water and the coastal area. The New Orleans metro area’s three largest economic drivers are tourism, oil and gas, and port and transportation. The fishing industry matters, too, especially to the outlying parishes like Plaquemines Parish. We must invest in rebuilding New Orleans because these industries bring economic value to the nation and generate additional jobs and wealth to the metropolitan area.

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